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Executive JOHN M. LOVEJOY, Chairman ERLE V. DAVELER G. B. WATERHOUSE WISER JUDSON WILLIAM WRAITH J. V. W. REYNDERS, Consultant Finance HENRY KRUM, Chairman PAUL D. MERICA R. M. ROOSEVELT H. G. MOULTON, Consultant Admissions. RALPH M. ROOSEVELT, Chairman GEORGE D. BARRON, Vice-chairman JOHN L. CHRISTI PHILIP KRAFT W. A. SINSHEIMER

Jan 1, 1936

Carlisle: An old friend and good friend, Alan Bateman, is the Silliman Professor of Geology Emeritus at Yale and editor of the Journal of Economic Geology. Now, Alan, let's start off by telling us something about how you became interested in copper. Bateman: Well, after I left Yale in 1913, I was appointed one of the field members of the Secondary Enrichment Investigation. We spent three years in the field studying all the copper deposits of North America, trying to find out how secondary copper enrichment took place. As part of this investigation, I went up to Kennecott, Alaska, in 1916. After the trip I was asked by the president of the company to become consulting geologist to them. I accepted his offer, and to this day I'm still consulting geologist to the Kennecott Copper Corp. Up at Kennecott, there were both Henry Krumb and my good friend Henry DeWitt Smith, who was general superintendent. He and I had been together at Yale, and I had ushered at his wedding. Interestingly enough, Henry took his bride to Alaska and I took mine there two months later. My assistant was Don McLaughlin, and I think that was his first experience in a mining camp. We published a paper on Kennecott together and cemented a friendship lasting to this day.

Jan 11, 1964

By LESTER W. STRAUSS

OUR early knowledge of history and geography attracted most of us to the mineral resources of South America. The romantic tales of the Spanish activities, which were curiously alluring, and Prescott's exceptional bi-Conquest histories-Mexico and Peru-no doubt fired our minds with the .then metallic wealth of the Spanish colonies. Later developments, intensified within the past eighty years, have, however, changed its fame which now rests on such metallics as copper and tin, and among the non-metallics on nitrate of soda and petroleum. South America proper, excluding Panama, is made up of thirteen countries, a coincident parity with our original thirteen States. Its area is given as 7,231,300 square miles, or slightly less than North America (8,037,000 square miles), is made up as follows:

Jan 1, 1930

By J. Chupak, D. J. Salley, G. L. Simard

Radiotracers were demonstrated to be of considerable value in a study of the interaction of dithiophosphate with galena. The interaction had characteristics of both chemisorption and chemical reaction, being complex because of the nature of the galena surface. Sorption was rapid and markedly reversible, and flotation occurred at relatively small amounts of dithiophosphate sorbed.

Jan 1, 1950

The pellet plant, built by Dravo Corp, in Groveland, Mich., for the Hanna Mining Co., is now in full operation. Although using jasper, a type of iron ore with low iron content (approximately 28% Fe), the plant has a rated capacity of 1,250,000 tans of pellets per year. In its four years of existence, the nearby concentrating plant has seen its capacity increase from 700,000 tons to 1,500,000 tons a year as part of a major expansion program at Groveland. Utilizing the Dravo-Lurgi continuous grate process, the pellet plant produces %a-in. pellets of more than 60% iron content. The fully-hooded pelletizing grate, largest in the U.S., is 9 ft. 10% in. wide and 223 ft. 1% in. tong over 34 windboxes, with an effective hearth area of 2195 sq. ft. Drying, firing, and cooling functions are all carried out on this single piece of equipment.

Jan 4, 1964

By Harry P. Hohenadel

DURING the past few years the amazing developments of the chemical industry have inspired so much publicity that the feature writers assure us that we are entering a "Chemical Age," industrially as important as the "Steel Age" and the "Electric Age," so-called. Whether or not these assurances are overstatements, it is a fact that the expansion of the chemical industry during the past 25 years has been enormous. The Chemical Bureau of the War Production Board calculates the value of chemicals produced during 1944 at $8,300,000,000, no small sum even in inflated dollars. As concerns us of the Southwest oil and gas country, four significant trends of the chemical industry are most important. (1) Many of the recently developed chemical products are new creations, not substitutes,. as new and original as the invention of the light bulb, and with a field for exploitation almost as wide. (2) Many of these chemical products will enter the mass consuming markets, which require enormous tonnages of products, and such markets are setting up an industrial demand for chemicals on a mass volume basis, compared to the relatively high-priced low-volume basis ordinarily considered as the chemical outlet of the past. (3) Most of the processes involved in producing these chemicals are adapt. able to the use, all or in part, of natural gas, oil, or refinery gases as raw mate-

Jan 1, 1945

By M. ROWE, H. E. Gilliland, L. BARNES

The authors of this paper are to be commended for a clear exposition of a timely subject. However, some important conclusions, in addition to those presented in the paper, can be drawn from the results of their elaborate and rather complete numerical computations. First of all, the major part of the calculations presented in the paper are for semi-infinite slabs of oil shale (the authors designate this as Model I) and a question must be posed — Are these elaborate computations needed to arrive at realistic estimates of the shale oil displaced. Consider the model of Lauwerier* that corresponds to the authors Model I if thermal conduction parallel to the fracture be neglected. If one also neglects the finite (but relatively small) heat capacity of the material in the fracture, it is easily shown from Lauwerier's solution that the cumulative oil production would be:

Jan 1, 1969

Organization Place Date 1919 American Railway Engineering Association Chicago, 111. Mar. 18-20 Society of Industrial Engineers New York, N. Y. Mar. 18-21 American Electrochemical Society New York, N. Y. Apr. 3-5 National Foreign Trade Council Chicago, Ill. Apr. 24-26 American Iron and Steel Institute New York, N. Y. May American Institute of Electrical Engineers Lake Placid, N. Y. June

Jan 3, 1919

By Eugene Stephenson

CRITICAL analyses of the work expended in producing oil by the utilization of gas energy have appeared in the publications of Shaw,1 Pierce and Lewis,2 and Herold,3 authors who have ably discussed the factors which must be taken into consideration in comparing energy consumed per barrel in various wells which are flowed by means of gas-lift. However, two distinct phases of oil production are concerned with the ratio of gas energy consumed to oil produced. One of these phases is the gas-lift, which utilizes the differential gas pressures for the purpose of flowing oil, whether these pressures be natural reservoir pressures or be induced by artificial compression of gas or air. The other phase has to do with prorating oil production in pools which are operated either as units, or are subject to such restrictions as those imposed at Oklahoma City by the Corporation Commission, or, by similar controlling groups in other fields. An abundance of literature is available relative to the problems of flowing wells by gas-lift, but the first suggestion that the energy of the gas within the oil and gas pool might serve as a basis for proration, appeared in the timely article by McWilliams.4 Much of the. dissatisfaction with proration in certain fields is because some operators feel that besides the hazard to the wells which accompanies the test, the method of allocating production on the basis of the "potential" gage is inequitable and gives some operators a distinct advantage over others.5 The most severe penalty may be exacted from the most progressive operators or those who attempt to produce their oil with a minimum quantity of reservoir gas. If :no difficulties ever

Jan 1, 1931

By James K. Richardson

FIRST indications that mineral industries expansion is beginning to show results are contained in the report by Defense Mobilizer Charles E. Wilson, The Battle for Production. The report, submitted to the President early this year, says that the United States has reached a $2 billion-per-month rate in military deliveries-three times that of 1950. Plant expansion in 1951 totalled $11.1 billion, the report states. Certificates of accelerated amortization have been approved to cover $11.4 billion in proposed plant construction. In reference to plant expansion significant to the mineral industry, the report states: •Steel industry goal is 120 million ingot tons by 1954, compared with present 108 -million ingot ton capacity. •Taconite beneficiation should result in 15 million tons by 1955. •An existing annual aluminum output rate of 860,000 tons. •An estimated 500,000 tons of sulphur by late 1953 •Manganese production up 50,000 tons as- the result of new projects in 1952. •Montana tungsten project coming into production in 1952. •Present zinc production expansion projects to add an estimated 150,000 tons to the 1951 production figure in 1953. Information gathered from official sources, other than Mr. Wilson's report, indicates an increase in the annual capacity of other segments of the industry by 1955, as shown in Table I. [ ]

Jan 1, 1952

By E. A. Gulbransen, J. W. Hickman

DURING the past two decades considerable progress has been made in the art of manufacturing heater alloys. The conventional iron-chromium-nickel alloys have been improved by the addition of small quantities of other elements. Up to the present time, to our knowledge, there has not appeared a systematic study of these alloys where the newer tools of investigation have been brought to bear on the problem. It is not yet clear what roles the additional elements play in increasing life time in usage. As a first approximation one might guess that elements such as manganese, silicon, zirconium, calcium and aluminum would aid in the formation of a protective film on the alloy surface, thus retarding the oxidation rate and increasing lifetime. If these additional elements do form protective oxides in the outer surface of the oxide film, it may be possible to identify them by means of reflection electron diffraction. It is also possible that the additional elements may not diffuse to the surface but may remain at the interface between the oxide and the metal. Then, too, the major elements in the alloys undoubtedly form oxides which are stratified on the surface. If the minor elements concentrate in a layer in contact with the substrate where they undergo oxidation and if this oxide film offers resistance to the diffusion of iron, chromium and nickel ions, then the lifetime of the heater element might be expected to increase. It is also possible that preferential reduction in the diffusion rates of the several ions may Occur to such a degree that oxides may form in the body Of the film and On the outer surface which are different from those that would normally form if the additional elements were not present. The use Of transmisson electron diffraction may aid us in jnterpreting these phenomena. UP to the Present time all Of the factors which influence the lifetime of a given heater element are not definitely known. Among these are: (I) The rate of oxidation of the alloy. This may be dependent upon the composition and the physica1 state of the "alloy. (2) The stability of the structure of the coating which forms. Transitions from one structure to another or solid phase reactions resulting in a change of composition may occur. The tendency of the film to adhere to the substrate when heated and cooled successively will be important. (3) The evaporation of various constituents from the alloy such as the remova1 of carbon by Oxygen in a decar-burization reaction. With these possibilities in view, an electron diffraction study of the oxides occurring on six different nickel-chromium alloys was undertaken with the hope that the results of this study could be correlated with oxidation rate studies as determined by means of the vacuum microbalance method1 and with lifetime tests carried

Jan 1, 1949

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.

By H. J. Wasson

WITH the close of 1932 and the third year of the depression, the activity of oil production presents, amidst the general wreckage and chaos of industrial society, a somewhat unique picture of rationalized economic effort. East Texas still dominates the contemporary horizon, but it has become, at least for the time being, a definitely known factor. With its 9500 wells it is approximately 90 per cent drilled up. So long as production control obtains, it is merely one important factor of the national oil reserve. Each succeeding month of stabilized production tends to lull the industry's fears and the menace, both actual and psychological, of this giant field becomes ever more remote.

Jan 1, 1933

By Zay Jeffries

Tungsten has the highest melting point of all the known metals, namely 3350 C.; it is one of the hardest of the metals; it has the highest equiaxing or recrystallization temperature after strain hardening, of any pure metal known. It is particularly distinguished because, when composed of small equiaxed grains, it is extremely brittle and fragile at room temperature, and when possessing a fibrous structure it may be ductile and pliable at room temperature. The common ductile metals act in exactly the opposite manner in this respect. The present paper will include a brief note regarding the manufacture of wrought and ductile tungsten. The metallography of wrought and ductile tungsten in the various stages of manufacture will be considered more or less in detail. The general relationships between the properties of tungsten and other metals will also be considered. A discussion will be given explaining why fibrous tungsten is ductile at room temperature, even though past experience with other metals would indicate that it should be brittle. Finally, a brief note regarding some new fundamental metallographic propositions relating to all metals will be given. Manufacture of Wrought and Ductile Tungsten Up to about 10 years ago, it had not been possible to work tungsten mechanically. About the year 1908, Dr. William D. Coolidge, of the General Electrie Go., produced ductile tungsten from what was then supposed to be an inherently brittle metal and which, in fact, was inherently brittle in its normal state, that is, when composed of equiaxed grains. Since that time many products, chief among which are the filaments for electric incandescent lamps, have been made from wrought and ductile tungsten. Tungsten is produced chiefly from the minerals wolframite and scheelite.1-8 The ores may be reduced in many ways. For example, the ore may be fused with alkali carbonates and the fusion dissolved in water; sodium tungstate is formed, which is soluble in water. This

Jan 1, 1919

By James M. Link

Slurry transport of industrial minerals has proven to be practical, economical, and efficient. Industrial minerals currently being pumped for long distances include cement, clay, phosphate, sand, and various waste product from industrial mineral processing operations. This paper will touch upon the basic theory of hydraulic transport of solids and then consider the economic and engineering considerations upon which construction and operation of such a line would be based. Where possible, actual cost data will be presented.

Jan 1, 1974

By John Ward Smith

Dawsonite-bearing oil shale of Colorado's Green River formation offers a unique and vast (more than 5.9 Gt of A120 j) resource of easily extractable alumina. The processing methods required by the thermal reactions of dawsonite and its oil-shale carrier also require production of shale oil, soda ash, and nahcolite as marketable coproducts. These production methods are presented. The alumina production process is contrasted with the Bayer process to describe technical advantages of extraction of alumina from oil shale which may offset the problems associated with processing a relatively lean ore. While alumina production from oil shale requires development of new technology, the technical problems appear solvable. Only the political problems arising from the now onerous and completely unnecessary federal oil-shale withdrawal appear less solvable.

Jan 1, 1982

By Charles Janin

(San Francisco Meeting, October, 1911.) THE first successful bucket-elevator dredge to operate in California was put in commission at Oroville in March, 1898. There had been numerous previous attempts at dredging, but none of the earlier boats proved a success. The gold-miners in California early conceived the idea of a machine to dig gravel from the beds and bars of auriferous streams that were inaccessible by the methods then employed, and it was only a few months after the discovery of gold in California that such a machine was. shipped around Cape Horn from New York to San Francisco. This was, however, but the forerunner of many failures in gold-dredging, and was soon at the bottom of the Sacramento river. During succeeding years many other unsuccessful attempts were made, and it was not until 1897 that a dredge of the single-lift bucket-elevator type was floated on the Yuba river. This dredge was built by the Risdon Iron Works for R. H. Postlethwaite, and would probably have been a success if it had been operated on some of the rich Oroville ground instead of in a turbulent stream, where the dredge was wrecked during a flood, and was not repaired. Fig. 1 is a sketch-map of California, showing gold-dredging areas. It is not my intention to narrate in detail the history of the early failures in gold-dredging, and the various steps in the development of the modern boat, but merely to touch upon this in a general way, and to call attention to the wide difference in capacity and operating-cost between the first successful dredge, with an actual capacity of 600 cu. yd. per day-though its rated capacity was in excess of this-and the present modern dredge with 15-cu. ft. buckets, and an average capacity of 250,000 cu. .yd. per month. Even this enormous capacity has several times been exceeded on monthly runs. The first successful dredges

Mar 1, 1912

By Ove Alm

Wet and dry specimens of three rocks of approximately granitic composition were deformed at different experimental conditions. These experiments were carried out in order to study the extent to which water, either added or released from mineral reactions, may affect the mechanical properties and the microstructure of these rocks. The experiments were conducted in a Griggs&apos; hot creep apparatus at temperatures and pressures up to 900ºC and 1000 MPa respectively; and most of them were performed in the constant strain rate mode [(1.10-6 < t < 1 • 10-4 s-1 )]. All three rocks were low porosity rocks, and the wet specimens never contained more than 0.9 wt % of added water. The experimental results are, however, quite unequivocal: They show that wet rocks are weaker than dry ones. A significant difference is even found for rocks tested in uniaxial compression at room temperature. A few experiments carried out on specimens obtained from larger prestressed rock cores indicated that the central parts of these cores were more likely to contain more microcracks than the ends. Optical microscope examinations revealed that extensive microcracking takes place even at the highest temperatures, where other mechanisms such as slip and dislocation creep also become important. Very little partial melting could be observed except for the specimens deformed at 900ºC.

Jan 1, 1982

By Benjamin Smith Lyman

THE importance of topography to geology is so commonly underrated as to deserve to be pointed out again and again. The relation of topography to the different branches of geology may be seen best by a glance at them all. Geology is well understood to consist of the observation of facts about rocks as materials of the earth (geognosy), and the explanation of those facts (geognosy). The facts to observe are : I. GEOMETRICAL, as (1) structure, including the dip and strike at different points, the size, shape, and position of basins and saddles; (2) vertical section, that is, the thickness of rock groups and of their parts ; (3) horizontal or geographical position. 11. PHYSICAL, such as texture, whether sedimentary or crystalline ; and, if crystalline, whether granitic, porphyritic, amygdaloidal, globular, or concretionary ; whether compact or granular; coarse or fine; pervious or impervious; hard or soft; firm or tender; with cleavage or without ; massive or thin ; the microscopic structure ; also whether magnetic or not ; soluble or insoluble ; fusible or infusible ; and the constituent minerals. 111. CHEMICAL that is, the composition of the rocks and of their minerals and their affinities. IV. PALAENTOLOGICAL, as what kind of fossils are in the rocks,

By L. A. Updegraff

Before discussing the application of capacitance for the measurement of moisture content in a moving stream of coal it might be well to first give a brief description of the process and then show how it can be applied to the coal industry. A capacitor may be described as a device having two conductors separated by an insulator, the conductors hereafter being designated as a test cell or test plates and the insulator as the dielectric. Capacitance, therefore, is a measure of the ability of a capacitor to store an electrical charge. Two basic factors that affect capacitance are the dimensions of the capacitor and the dielectric constant of the insulator. Capacitor dimensions which affect its capacity are the area A of the conductive surface, and the distance d between plates. Capacitance is inversely proportional to the distance between plates and directly proportional to area A, so if capacitance is indicated as C and the dielectric constant as K the equation for capacitance would be C = AK/d. The dielectric constant can be described as the ratio of the actual capacitance of any given material to that of a vacuum, which is unity. In industrial applications the area of the plates remains constant as also does the distance between them, leaving the dielectric constant as the only variable to affect the capacitance measurement. Figure 1 is a schematic diagram of an r-f excited capacitance bridge in which a test cell is part of the circuit. This bridge consists of four capacitors in two pairs connected across an a-c voltage source. In one side of the circuit the two capacitors are fixed but in the other side they are variable, one being the rebalance capacitor operated by the servo motor and the other the test plates between which the dielectric passes. Capacity of the plates is a function of the dielectric constant of the material between them and is measured at radio frequency. Within the recording instrument is an r-f oscillator and a 60 c ps modulator. The radio frequency signal is generated by the oscillator, modulated by a 60 cps wave, and sent to the bridge. Therefore the signal entering the capacitive bridge is a radio frequency carrier with a 60 cycle envelope, If the bridge is in balance as the signal enters there would be no voltage drop and so no output by the detector. As long as the dielectric constant remains the same the bridge will stay in balance. However, any change in the dielectric constant, which in this case would be a change in moisture content, would affect the bridge. Higher moisture increases the capacity of the test cell which causes less voltage to develop across it causing imbalance of the bridge. This in turn causes a radio frequency signal to appear at the detector. Output from the detector is a 60 cycle ripple which is in proportion to the imbalance of the circuit. A 60 cycle amplifier boosts the detector signal to enough power to drive the servo motor which positions the recording pen and also rotates the variable capacitor, to which it is mechanically connected, to bring the bridge back in balance. An increase in moisture causes the servo motor to rotate in one direction, but a decrease causes imbalance in the opposite direction, and thus rotates the motor in that direction. This brings the bridge back in balance and stops the motor. The bridge shown in Figure 1 has been modified so as to provide a wide range of adjustments. Coarse and fine span adjustments located in the recording instrument are set to govern the amount of pen movement for a given change in capacitance. A measuring head unit contains coarse and fine zero adjustments for

Jan 1, 1961